Brick 8-Unit Apartment
For Sale
$1,199,000
8909 170th Street, Jamaica, NY 11432
Commercial Sale, Jamaica, NY
Property Size4,380 SF
Lot Size0.07 Acres
Price / SF$273.74
Days on Market92
Property Features for 8909 170th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R6A
Rooms
Basement
Parking
2
Parking features
Open, Driveway, On Street
Basement
Walk-Out Access, Finished, Full
Lot features
Back Yard, Near Public Transit, Near School, Near Shops
Elementary school
Ps 95 Eastwood
Middle school
Is 238 Susan B Anthony Academy
High school
Contact Agent
Elementary school district
Queens 29
Middle school district
Queens 29
High school district
Contact Agent
Standard status
Active
APN
09805-0047
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
38218
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1970
Floors in Building
3
Number of units
8
Building materials
Brick
Listing Agency:
Voro LLC
(877) 943-8676
Listed By:
Sanjeev Thapar
(917) 324-4338
Added: May 25
Changed: Aug 20
Last Checked: Aug 24 at 2:06PM
MLS# 1003860
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1970, this three-story semi-detached brick walk-up contains 8 residential apartments totaling approximately 4,380 square feet. The unit mix includes six one-bedroom apartments and two studios, all rent-stabilized and fully occupied. The property sits on a 24x125 lot with R6A zoning and includes a basement, public water and sewer, baseboard heat, and wall or window-unit cooling. Parking options include an open area, driveway, and on-street spaces.
The property is located two blocks from Hillside Avenue in Jamaica, within reach of supermarkets, restaurants, shopping, laundromats, and other neighborhood services. Public transportation includes the E and F subway lines at 169th Street, along with multiple bus routes serving Queens and Manhattan.
The property is located two blocks from Hillside Avenue in Jamaica, within reach of supermarkets, restaurants, shopping, laundromats, and other neighborhood services. Public transportation includes the E and F subway lines at 169th Street, along with multiple bus routes serving Queens and Manhattan.
Key Highlights
- 8 residential units: six one‑bedroom apartments and two studios
- Approximately 4,380 square feet on a 24x125 lot
- All apartments are rent‑stabilized and fully occupied
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$107,067
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.93%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,141,340
$2.1M
Cap Rate 7%
$1,529,529
$1.5M
Cap Rate 9%
$1,189,633
$1.2M
Market Conditions
NOI Build-Up for 4,380 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$202.4K $46.20/SF
− Vacancy
−$7.7K −$1.76/SF
EGI
$194.7K $44.44/SF
− OpEx
−$87.6K −$20.00/SF
NOI
$107.1K $24.44/SF
Area
Queens County, NY
Vacancy
3.80%
Lease Rate
$46.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,141,340
Cap Rate 7%
$1,529,529
Cap Rate 9%
$1,189,633
Alternative Uses
Best Use
Apartment 5plus
$1.53M
$1.34M – $1.78M
NOI $107,067 @ 7.0% cap · market cap 8.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.23M
$2.83M – $3.77M
NOI $226,029 @ 7.0% cap · market cap 18.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
5,197
Businesses Nearby
Explore this area
Business Placement
Demographics for 11432, NY
65,743
Population
21,618
Households
3
Avg Household Size
39
Median Age
36%
College-Educated
80%
High-School Grad
2.0 sq mi
ZIP Area
32,872
Density / Sq Mi
$75,395
Median Household Income
$37,385
Median Earnings
$1,841
Median Rent
$826,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Three-story brick walk-up with fully occupied rent-stabilized apartments and R6A zoning.
Where is this apartment building located?
The property is located at 8909 170th Street Jamaica, NY.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: 8 residential units: six one‑bedroom apartments and two studios; Approximately 4,380 square feet on a 24x125 lot; All apartments are rent‑stabilized and fully occupied
